Marketline Report for Thursday, November 8th
This is Bob Larson with the Market Line Report for Thursday, Nov 8th. The grain market is mixed in Wednesday trading. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Wheat was mixed today. The technical numbers have changed that trend to the upside and it's kind of interesting because I think that wheat has been bouncing around. So, while we do have the winter wheat troubles that would normally move the market higher, the fundamentals, all the technical numbers, actually point up. Outside of that, everything is really kind of bearish for the wheat market and Kansas City was off today, pretty firmly, maybe six or seven cents, and one of the things to watch is that as Kansas City goes, so goes that Chicago wheat market. So, we have a lot more volatility in the market and we're not really sure which way we're going to go here, but after the WASDE report it will give us a little bit more direction."
Chicago Dec Wheat prices closed yesterday dn 1 ¾ at 509 ½
Dec Corn was dn 1 at 372 ¼
Portland prices for soft white wheat of Ordinary Protein for Nov ended the day dn 2 ranging from 6-20 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were dn 5 ¾ ranging from 6-42 ¼ to 6-60 ¼ DNS wheat with 14 % protein, prices for Nov were dn 7 ¾ ranging from 6-80 ¾ to 6-90 ¾
Live Cattle for Dec were up $.67 ½ at 115.77 ½ Nov Feeder cattle are dn $.05 to 149.80 Nov Class III milk was dn .02 cents at 14.50
